Lugs and also this one:
SHEDIAC – NEW BRUNSWICK, CANADA – January 8, 2007 - InteliSys Aviation Systems Inc. announced today that it has successfully completed the corporate restructuring process which the Company began in June, 2006.
Under the restructuring plan approved by the Court of Queen’s Bench of the Province of New Brunswick, Canada, the employees of InteliSys and a group of equity investors formed a new company which then purchased the assets of InteliSys Aviation Systems including the Company name.
“We are very pleased that all our Clients and employees remained with the Company throughout this process”, says Jock English, President and CEO of InteliSys. “We are particularly appreciative of the confidence and support our Clients exhibited during the transition. With the regulatory requirements and associated costs required to remain publicly traded the Company was financially unable to continue to operate profitably. As a financially stable, privately owned Company, we are now extremely well positioned to continue our high level of service to our Clients without the cost and effort required of a public company. We look forward to the continued enhancement of our services to our Clients.”
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InteliSys began operations in 1999, offering passenger reservations, flight operations and maintenance solutions to regional airlines. From 2001 to 2006, InteliSys concentrated on the regional airline market while also positioning its solutions for the rapidly expanding Low Cost/Low Fare Carrier market.
In 2005, the InteliSys team undertook development of a major new software release that not only met the functional requirements of clients in different geographic regions and demographically diverse markets, but also provided the scalability to provide the same solution to airlines flying millions of passengers per year as well as those flying a few thousand passengers per year.
As of early 2007, InteliSys has implemented its systems for over 30 clients, most of whom continue as multi-year ASP hosted clients with all computing power provided from InteliSys’ Facilities. All facilities at InteliSys are maintained on a 7/24/365 basis with support staff and backup facilities to provide uninterrupted service.
“amelia” is InteliSys’ proprietary, integrated suite of airline management tools designed specifically for the rapidly growing Low Fare Airline market. The “amelia” solution is delivered over the internet from InteliSys data centres. InteliSys markets its products worldwide through a direct sales force and licensed resellers.
InteliSys Company information can be found at www.intelisys.ca
For further information about this press release, please contact Jock English, President and CEO of InteliSys at jenglish@intelisys.ca.
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